Cadiz (CDZI) Issues Statement on 'Apparent Bias' in BLM Review of Water Project

August 17, 2016 5:47 PM EDT
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Cadiz Inc. (NASDAQ: CDZI) (“Cadiz”, the “Company”) reported today that the Wall Street Journal published an editorial on the content of email exchanges, previously disclosed by the Company on August 8, 2016, between the U.S. Bureau of Land Management (“BLM”) and third parties regarding BLM’s review of the Cadiz Water Project. The Company received the emails following a request for information from the BLM filed under the Freedom of Information Act.

The Company issued the following statement following the Wall Street Journal editorial:

“We are extremely disappointed to learn of BLM’s apparent lack of fundamental fairness in its evaluation of our project. In 2009 the Department of the Interior stated that our proposed use of the ARZC right-of-way for a water conveyance pipeline was within the right-of-way’s scope and since that time, the Project and the pipeline have been reviewed, approved, and upheld under California environmental laws - the toughest in the nation. We have complied with all federal law and policy regarding the use of railroad routes, and we believe without question the Project is within the scope of the right-of-way under all currently applicable laws.

There is now a palpable dark cloud that hovers over BLM’s decision-making process and we call on BLM to immediately rescind its October 2015 opinion and support Congress’ efforts to remove the vagaries inherent in the existing process. The widely-supported Project, which stands ready to deliver much-needed water to 400,000 people in Southern California, should proceed forthwith.”

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